Can I retire at age 62 with 637,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $637,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$52,603$52,134$51,677$51,231$50,795$49,347
2 years$26,041$25,556$25,086$24,630$24,188$22,741
3 years$17,188$16,701$16,232$15,781$15,346$13,944
4 years$12,763$12,277$11,813$11,369$10,945$9,600
5 years$10,108$9,625$9,167$8,733$8,320$7,035
6 years$8,339$7,860$7,409$6,984$6,583$5,360
7 years$7,076$6,601$6,157$5,742$5,354$4,192
8 years$6,129$5,658$5,221$4,816$4,442$3,340
9 years$5,393$4,926$4,497$4,103$3,741$2,699
10 years$4,804$4,342$3,921$3,536$3,187$2,204
11 years$4,323$3,866$3,452$3,078$2,741$1,814
12 years$3,922$3,470$3,063$2,700$2,375$1,503
13 years$3,583$3,136$2,737$2,383$2,071$1,252
14 years$3,293$2,850$2,459$2,116$1,816$1,048
15 years$3,042$2,604$2,220$1,887$1,599$879
16 years$2,822$2,389$2,013$1,689$1,413$740
17 years$2,629$2,200$1,832$1,518$1,253$625
18 years$2,457$2,033$1,672$1,368$1,114$528
19 years$2,303$1,884$1,531$1,236$993$447
20 years$2,165$1,751$1,405$1,120$887$379
21 years$2,040$1,631$1,292$1,016$794$322
22 years$1,927$1,522$1,191$924$711$274
23 years$1,824$1,424$1,100$841$639$233
24 years$1,729$1,334$1,017$767$574$198
25 years$1,642$1,252$942$701$516$169
26 years$1,562$1,177$874$641$465$144
27 years$1,488$1,107$811$586$419$123
28 years$1,420$1,043$754$537$378$105
29 years$1,356$984$702$493$342$89
30 years$1,297$930$654$452$309$76
31 years$1,241$879$609$415$279$65
32 years$1,189$831$569$382$253$56
33 years$1,141$787$531$351$229$47
34 years$1,095$746$496$323$207$41
35 years$1,052$708$464$297$187$35
36 years$1,012$672$434$274$170$30
37 years$974$638$406$252$154$25
38 years$937$606$380$233$140$22
39 years$903$577$356$214$127$18
40 years$871$549$334$198$115$16
41 years$840$522$313$182$104$13
42 years$811$497$294$168$94$11
43 years$783$474$276$155$86$10
44 years$757$452$259$144$78$8
45 years$732$431$243$133$71$7
46 years$708$411$228$122$64$6
47 years$685$392$214$113$58$5
48 years$663$374$201$105$53$4
49 years$642$357$189$97$48$4
50 years$622$341$178$89$44$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $637,000, adding $6,667 every year, while hoping to spend $48,385 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 70/25/5 Blend
61$637,000$637,000$637,000$637,000
62$708,851$675,090$665,217$757,638
63$729,673$656,688$636,020$772,345
64$750,996$635,763$604,224$781,802
65$772,822$612,140$569,690$790,801
66$795,149$585,633$532,273$799,286
67$817,973$556,049$491,823$807,196
68$841,290$523,178$448,183$814,464
69$865,091$486,804$401,186$821,018
70$889,366$446,693$350,662$826,781
71$914,103$402,603$296,431$831,669
72$939,285$354,273$238,305$835,594
73$964,891$301,432$176,087$838,457
74$990,898$243,790$109,574$840,153
75$1,017,277$181,043$38,552$840,571
76$1,043,993$112,868$0$839,587
77$1,071,008$38,926$0$839,058
78$1,098,274$0$0$839,177
79$1,125,740$0$0$849,065
80$1,153,343$0$0$869,750
81$1,181,015$0$0$890,468
82$1,208,674$0$0$911,157
83$1,236,232$0$0$931,746
84$1,263,586$0$0$952,158
85$1,290,619$0$0$972,300
86$1,317,201$0$0$992,072
87$1,343,185$0$0$1,011,359
88$1,368,406$0$0$1,030,034
89$1,392,678$0$0$1,047,953
90$1,415,794$0$0$1,064,954
91$1,437,521$0$0$1,080,858
92$1,457,599$0$0$1,095,463
93$1,475,740$0$0$1,108,545
94$1,491,619$0$0$1,119,854
95$1,504,876$0$0$1,129,111
96$1,515,110$0$0$1,136,006
97$1,521,876$0$0$1,140,193
98$1,524,676$0$0$1,141,290
99$1,522,961$0$0$1,138,869
100$1,516,118$0$0$1,132,458